On June 30, 2021, the High Five Surfboard Company had outstanding accounts receivable of $690,000 on July 1, 2021, the company borrowed S540.000 from the Equitable Finance Corporation and signed a promissory note Interest at 116 is payable monthly The company assigned specific receivables totaling $690,000 as collateral for the loan. Equitable Finance charges a finance fee equal to 17% of the accounts receivable assigned Required: Prepare the journal entry to record the borrowing on the books of High Five Surfboard. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction is Journal entry worksheet